- Launched 14 critical injectable medicines since Company inception in October 2023 and remains on track to meet target of 25+ products by year-end 2025
- Pursuing two-pronged portfolio development strategy to establish strong foundation of critical injectable products while ensuring long-term competitiveness and return on investment
- Company to attend the 43rd Annual J.P. Morgan Healthcare Conference
SCHAUMBURG, Ill.--BUSINESS WIRE--
Avenacy, a specialty pharmaceutical company focused on supplying critical injectable medications, today provided an update on recent business highlights and financial performance for 2024 and strategic priorities for 2025 ahead of the Company’s participation in the 43rd Annual J.P. Morgan Healthcare Conference from January 13-16, 2025 in San Francisco, CA.
“2024 was a breakout year for Avenacy marked by exceptional growth and tremendous progress. Through our industry-leading speed to market and steadfast commitment to quality, safety, and reliability, we have demonstrated our value as a clear partner of choice for hospitals and providers in need of essential medications,” said Jeff Yordon, Co-Founder & CEO of Avenacy. “2025 will be a pivotal year for the organization, and we are confident in our ability to achieve our ambitious portfolio and broader business goals. As we continue to position our business for accelerated growth, we remain committed to our mission of enhancing patient care and addressing critical gaps in the U.S. healthcare system.”
2024 and Recent Business Highlights
- Solid revenue performance in first full year of operation lays important foundation for future growth. The Company’s FY2024 performance was driven by its strong foundational portfolio comprised of 14 critical injectable medicines. With its currently signed portfolio, the Company expects to generate robust annual sales growth and gross profit expansion.
- Built out commercial leadership and infrastructure to support continued scale-up and rapid growth of the business. The Company has established wholesaler agreements with Cardinal, McKesson, ABC/Cencora, Morris Dickson, and additional smaller specialty wholesalers, completed sales team hiring across all major U.S. geographies, and secured all necessary state licenses.
- Strengthened leadership and financial position with addition of Dr. Patrick Soon-Shiong to Avenacy Board and co-founding team. Dr. Soon-Shiong brings over 25 years of pharmaceutical industry experience, including successful commercialization of injectable generic drugs.
All of Avenacy’s products feature differentiated packaging and labeling to assist pharmacists and clinicians with accurate medication selection. The Company continues to pursue opportunities to bring products to market that improve safety and convenience, such as ready-to-use dosage forms, formulations that are easier to store, and extended expiration dating. Additionally, Avenacy is monitoring current drug shortages and actively exploring strategic opportunities to fill gaps in the U.S. healthcare system.
2025 Strategic Priorities
- Achieve goal of launching 25+ products by year-end 2025. The Company has maintained a robust pipeline of signed products that are targeted for launch over the next two years, including multiple products with market sizes exceeding $100M.
- Continue build-out of foundational portfolio. The Company’s foundational portfolio is focused on critical acute care medications and shortage products with a higher adoption rate in the hospital market. Due to the minimal upfront cost required to launch these products, the Company views its foundational portfolio as a near-term opportunity to quickly establish its market presence while maintaining a cost-effective business.
- Secure additional investment to support pursuit of long-term growth portfolio. The Company’s growth portfolio will be comprised of products with a higher anticipated return on investment, including market formation products and products filed under Avenacy-owned ANDAs. The Company expects that investment in this longer-term horizon portfolio will help to solidify its position as a leading provider of generic injectable medications.
- Through a generous capital raise in late August, Avenacy was able to secure products that will be launched this year and contribute to 2025 financial growth. The Company is looking to raise funds to invest in additional revenue-generating assets and expand both its foundational and growth portfolios.
“In Avenacy’s first full year of operations, we have laid important groundwork and are looking forward to continuing this momentum as we shift into 2025,” said Joe Mase, Chief Operating Officer at Avenacy. “We are proud of our accomplishments in our first year, and we will continue to seek capital funding to support strategic portfolio development and ensure sustainable long-term growth.”
Participation at 43rd Annual J.P. Morgan Healthcare Conference
Jeff Yordon, Co-Founder & CEO, Joe Mase, Chief Operating Officer, and Peter Jensen, Vice President of Finance, will be meeting with investors and showcasing the Company’s recent accomplishments and plans for 2025.Investors wishing to schedule a meeting to discuss Avenacy’s progress to date and strategic initiatives are encouraged to contact FTI Capital Advisors at FTI.AvenacyTeam@fticonsulting.com.
About Avenacy
Avenacy is a U.S.-based specialty pharmaceutical company focused on supplying critical injectable medications used to treat patients in various medically supervised settings, from acute care hospitals to outpatient clinics and physician offices. Through a rigorous and optimized selection process, the Company is building out a pipeline of high-quality FDA approved injectable products in order to ensure a resilient portfolio that can meet the needs of today’s dynamic drug supply chain. With an experienced team, commitment to quality and reliability, and product offerings intended to facilitate safe and efficient patient care, Avenacy strives to be a trusted partner for essential medications.
Avenacy was launched in 2023 and is headquartered in Schaumburg, IL. For more information, please visit http://www.avenacy.com/.
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